The American election has set a disappointing example

The American election is going to be close. As the polls stand, President Obama and Mitt Romney are neck and neck – but Mr Obama enjoys a four- to five-point lead in the all-important swing states. The closeness of the numbers reflects how divided the US has become. If Mr Obama wins it will be despite his failure to deliver on the promise of unity and hope that he offered in 2008. Under his watch, America feels more partisan and conflicted than ever.

There are good reasons to be anxious about Mr Obama being granted a second term. In a globalised economy, it’s important for Britain that America has a flourishing economy and sound finances. On both counts, Mr Obama’s record is a disappointment. When he was inaugurated, unemployment stood at 7.8 per cent. Today, it is 7.9 per cent (although the addition of 171,000 new jobs in October is an encouraging sign of gradual recovery). The number of people living below the poverty line is up, while the number receiving government-issued food stamps is at a staggering high of 47 million. The price tag of Mr Obama’s economic strategy has been a national debt that now tops $16 trillion.

The election campaign should have been an opportunity for the President to make a fresh case for his leadership. Instead, he has preferred to engage in attacks on Mr Romney’s record and character – many of which have been successful. Moreover, if he does win then the strength of Republicans on Capitol Hill will probably spell another four years of conflict and indecision.

By contrast, Mr Romney’s campaign has improved dramatically in the past month. At his best, the Republican has articulated well the conservative critique of big government – the view that America simply can’t go on spending its way out of recession. But he is no radical and has wisely softened his language on immigration, health care reform, foreign policy and women’s rights. The choice of Congressman Paul Ryan as his running mate heralded the arrival of a new generation of Republicans for whom conservatism isn’t just about resistance to progress, but also about new ideas. It is worth noting that the Romney/Ryan presidential ticket is the first in history not to include a Protestant – a nod towards the growing diversity of modern America.

A Romney presidency is not as terrifying a thought as his liberal critics would have us believe. He accepts the need for austerity at home and for America to lead rather than just react overseas. He also seems more enthusiastic about America’s relationship with Great Britain than does Mr Obama, having pledged to reaffirm the Atlantic alliance. That his goodwill was undone by a disastrous tour of the UK in July – when he doubted our ability to host the Olympics – speaks to contradictions within Mr Romney’s personality that have undermined his candidacy. Aside from his frequent gaffes, nominating a wealthy man with a background in private equity was risky during a recession sparked by a crisis in the financial sector. Although he regained ground in the past few weeks, the challenger has been haunted by the sense that he isn’t quite the right man for 2012.

A troubled world still looks to America for leadership, both in terms of economics and on issues of peace and war. What a shame, then, that this election has been fought more on matters of class and character than on policy and principle.